Stocks close lower

Stock market closed lower for the third consecutive session when transaction fell due to low level of both institutional and individual buying.

The DSEX index of Dhaka Stock Exchange (DSE) finished the day almost flat at 4568.01 when the blue-chip DS30 ended marginally lower at 1727.95 and the Shariah DSES at 1098.48.

The DSEX, however, hit 4600-point mark in the first hour, but could not hold the trend later on the day on sell pressures.

The daily transaction continued to fall, with the trade value declining by 12.46 percent to Taka 387.84 crore and the volume decreasing by 18.70 percent to 13.64 crore shares.

The major lagging sectors were fuel and power (-1.27 percent), bank ((-0.06 percent) and textile (-0.09 percent) while engineering was the lone advancing sector with marginal gain.

The 1st Prime MF, MI Cement, Phoenix Finance, KDS Accessories and GSP Finance were the day`s top advancing among 113 gaining issues. The major losers were National Tubes, BD Autocars, Gemini Sea, Bangas and Exim 1st MF among the day`s 161 lagging scrips.

Ifad Autos topped the turnover list followed by KDS Accsories, Al Arafa Bank, Saif Power and Beximco Pharma.

Chittagong Stock Exchange (CSE) ended lower again on Wednesday. All the price indices ended in red, with major CSCX closing 15.28 points down at 8491.38.

Out of the day`s 240 issues traded, 84 gained and 128 incurred losses. The daily trade value fell to Taka 24.82 crore when the trade volume declined to 82 lakh shares.